PNC Financial Services Group Inc. lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,013 shares of the company’s stock after selling 8,735 shares during the period. PNC Financial Services Group Inc.’s holdings in Cardinal Health were worth $6,686,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CAH. Panagora Asset Management Inc. grew its stake in Cardinal Health by 53.6% during the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock valued at $1,452,000 after acquiring an additional 8,935 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Cardinal Health by 4.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock valued at $2,102,000 after acquiring an additional 1,702 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Cardinal Health during the 1st quarter valued at about $212,000. Blair William & Co. IL grew its stake in Cardinal Health by 6.7% during the 1st quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock valued at $667,000 after acquiring an additional 734 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Cardinal Health by 6.4% in the 1st quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock valued at $26,792,000 after purchasing an additional 28,568 shares during the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.
Analyst Ratings Changes
Several research firms have weighed in on CAH. Barclays began coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price on the stock. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $101.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Wells Fargo & Company initiated coverage on shares of Cardinal Health in a report on Thursday, December 14th. They issued an “underweight” rating and a $96.00 target price on the stock. Finally, UBS Group upped their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.38.
Read Our Latest Research Report on CAH
Insider Transactions at Cardinal Health
In other news, CEO Deborah Weitzman sold 36,642 shares of Cardinal Health stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $106.31, for a total transaction of $3,895,411.02. Following the completion of the sale, the chief executive officer now directly owns 35,202 shares in the company, valued at $3,742,324.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.
Cardinal Health Stock Down 0.5 %
Shares of NYSE CAH opened at $104.45 on Tuesday. Cardinal Health, Inc. has a 52 week low of $68.53 and a 52 week high of $111.40. The firm has a 50-day moving average price of $104.08 and a 200 day moving average price of $97.69. The stock has a market capitalization of $25.41 billion, a price-to-earnings ratio of 41.12, a price-to-earnings-growth ratio of 0.90 and a beta of 0.69.
Cardinal Health (NYSE:CAH – Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same period last year, the firm posted $1.32 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts expect that Cardinal Health, Inc. will post 7.29 EPS for the current fiscal year.
Cardinal Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.92%. Cardinal Health’s dividend payout ratio (DPR) is currently 78.74%.
Cardinal Health Profile
Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.
Further Reading
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Source: defenseworld.net
